Crypto Chronicles: Trump’s Bitcoin Blunder, El Salvador’s Defiance, and More! 😜

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Welcome to this week’s edition of the crypto world’s juiciest gossip! 🍿

Trump’s Bitcoin Reserve Fails to Impress 😴

  • President Trump’s executive order for a Strategic Bitcoin Reserve fails to generate substantial interest as ETF outflows continue.

El Salvador Ignores IMF, Buys More Bitcoin 🌋

  • President Nayib Bukele mentioned El Salvador plans to continue acquiring Bitcoin regardless of International Monetary Fund demands included in their $3.5 billion loan agreement.
  • The IMF had claimed to have imposed a prohibition on “voluntary accumulation of bitcoin by the public sector” as part of the financing package.

Mt. Gox Moves 11,834 Bitcoin 😲

  • The bankrupt cryptocurrency exchange moved approximately 11,834 BTC (worth about $1.07 billion) from its “1PuQB” wallet to an unmarked address according to Arkham Intelligence data.
  • This transaction marks Mt. Gox’s first major Bitcoin movement since late January, potentially related to ongoing creditor repayment processes.

Tether Freezes $28 Million USDT 🚨

  • The stablecoin issuer blocked $28 million worth of USDT held on Garantex, a Russian cryptocurrency exchange sanctioned by the European Union for alleged ties to the Russian government and criminal organizations.
  • Following the freeze, Garantex announced a temporary suspension of all services via its Telegram channel, directly impacting the exchange’s operations.

Gemini Files for IPO, Flowdesk Raises $52 Million 🚀

  • Cryptocurrency exchange and custodian Gemini has submitted a confidential initial public offering filing, working with Goldman Sachs and Citigroup.
  • The firm, founded by billionaire twins Cameron and Tyler Winklevoss, has not made a final decision on the listing.
  • Meanwhile, Flowdesk raised $52 million in a Series B round led by BlackRock, the world’s largest asset manager.

Volatility Shares Files for Three XRP ETF Products 🐠

  • The ETF asset manager has submitted applications for a spot XRP ETF, a 2x leveraged XRP ETF, and an inverse -1x XRP ETF.
  • The products would offer direct price tracking, amplified daily price movements, and inverse performance respectively.

FIFA and Formula 1

  • Fédération Internationale de Football Association (FIFA) President Gianni Infantino suggested the organization may develop its own cryptocurrency token.
  • Formula One Group teams have received sponsorships from some of the biggest companies in the crypto industry, including Gate.io, Binance and ApeCoin.

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2025-03-09 16:58